Investors Return to Middle Eastern Markets

Foreign investors are cautiously beginning to return to Middle Eastern markets, it has been claimed. Businesses and governments in the region are starting to raise cash and capital once again. But foreign investment remains below its pre-crisis levels and much of the capital reaching the region is cash held abroad by Gulf governments that is being repatriated to fund local development projects, Simon Kitchen, strategist for EFG-Hermes in Cairo, told Jerusalem Post....

Foreign investors are cautiously beginning to return to Middle Eastern markets, it has been claimed. Businesses and governments in the region are starting to raise cash and capital once again.

But foreign investment remains below its pre-crisis levels and much of the capital reaching the region is cash held abroad by Gulf governments that is being repatriated to fund local development projects, Simon Kitchen, strategist for EFG-Hermes in Cairo, told Jerusalem Post.

"In the Gulf, you have governments with big foreign financial assets, which they have been selling to invest in real assets in their own economies. Strictly speaking, that's not foreign investment, but it contributes to the figures," Mr Kitchen said. "Still, we've seen a recovery in Egypt and other countries of the region."

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